2129 2nd St · Bay City, MI 48708

$57,900

4 bd · 1.0 ba · 1,382 sqft · SingleFamily public records · 21 Days on market

Built 1900 8,712 sqft lot ↓ 12% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Bay City Bungalow! This lovely 4 bedroom 2 bath home is just waiting for some finishing touches. Hardwood floors and original woodwork throughout! Large basement just waiting to be finished and a super long 180 foot yard make this home an entertainer’s dream. A large detached 2 car garage would also make an awesome man-cave, she-shed or workshop. .. So many possibilities! Located very close to beautiful Carroll Park and right around the corner from the rail-trail will keep you active and entertained all year!

Key facts

• Updated electrical
• Vinyl siding
• Updated plumbing

Tags

• LOCATED NEAR CARROLL PARK
• UPDATED ELECTRICAL
• UPDATED PLUMBING
• UPDATED LIGHT FIXTURES
• VINYL SIDING
• PARTIALLY FENCED YARD

Property features AI

Exterior

• Parking: Detached 2-car garage (18 x 20); Paved driveway
• Utilities: Public water; Public sanitary sewer; Natural gas service; Gas water heater; Electric service (standard city/paved street access)
• Home design: Residential property; 1 1/2-story structure; Built in 1900
• Construction: Basement foundation
• Exterior features: Vinyl siding; Fenced yard; Porch; Sidewalks; Street lights; Deep lot (150+ ft); City limits location; Road frontage

Interior

• Kitchen: Kitchen on the first floor (11 x 10); Ceramic floor in the kitchen
• Bedrooms: First-floor bedroom; Second-floor bedroom (13 x 12, wood flooring); Second-floor bedroom (12 x 10, carpet); First-floor bedroom (width 10, wood flooring); First-floor bedroom (10 x 10, carpet)
• Flooring: Wood flooring in living room, dining room, and multiple bedrooms; Carpet in some bedrooms; Ceramic flooring in at least one bathroom and the kitchen
• Bathrooms: Main floor full bathroom; Two full bathrooms (total)
• Heating & cooling: Forced air heating; Ceiling fan(s) for cooling; Gas water heater; Natural gas heat/fuel
• Interior features: Dishwasher; Range/Oven
• Laundry & utility: Laundry located in the basement; Basement present (full, block)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $630 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• Recommended offer: $57k (1.5% below list) — sets the bar for market timing.
• Cap rate 19.3% vs local median 5.5% in Bay City — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#360 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, amenities D, crime F.
• Bay City School District (urban): math 27% / reading 40% proficiency, ranked #317 of 540 in MI (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 148 active listings in the ZIP; 39 units permitted in Bay County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $400 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Bay County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 22y ago; this cycle's ask has dropped $7k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,031 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.50% ✓
• Cap rate: 19.34%
• Cash-on-cash: 46.61%
• DSCR: 3.07
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $136,818
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1539 Park Ave	0.34mi	4/1.0	1,371 (-1%)	0mo	$175,000	$128	82
2122 2nd St	0.03mi	4/1.5	1,511 (+9%)	2mo	$140,000	$93	79
1316 N Trumbull St	0.14mi	3/1.5 (-1)	1,312 (-5%)	2mo	$118,303	$90	76
2131 7th St	0.42mi	3/1.0 (-1)	1,436 (+4%)	6mo	$134,000	$93	64
714 Nebobish Ave	0.38mi	3/2.0 (-1)	1,288 (-7%)	4mo	$69,000	$54	59
608 Woodside Ln	0.47mi	3/2.0 (-1)	1,320 (-4%)	4mo	$140,000	$106	58
1500 6th St	0.57mi	3/2.5 (-1)	1,413 (+2%)	1mo	$128,500	$91	58
800 Woodside Ln	0.59mi	3/1.0 (-1)	1,450 (+5%)	8mo	$144,000	$99	53
407 Harvard St	0.70mi	3/1.0 (-1)	1,447 (+5%)	6mo	$140,000	$97	49
2121 7th St	0.42mi	3/1.5 (-1)	1,182 (-14%)	2mo	$175,000	$148	47
200 Tuscola Rd	0.71mi	3/2.0 (-1)	1,288 (-7%)	4mo	$157,500	$122	44
500 Princeton St	0.74mi	3/2.0 (-1)	1,260 (-9%)	5mo	$145,000	$115	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 44.0%
• Equity multiple: 2.90×
• Total profit: $30,815
• Equity at exit: $8,633

10-year hold

• IRR: 50.0%
• Equity multiple: 5.86×
• Total profit: $78,845
• Equity at exit: $5,006

Cash invested: $16,212 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 48708

• Home prices YoY: -30.9%
• Active inventory: 148
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,445 medium
• Mortgage (P&I): −$304
• Tax from tax record: −$184 /mo · $2,205/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $630

Break-even live

Break-even rent $647

Max offer price $57,900

Occupancy floor 51%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $14,475
• Closing costs: $1,737
• Reserves months: —
• Total cash needed: —

Listing history 40 events

1. 2026-06-17
   status $57,900 Pending 21 DOM
2. 2026-06-16
   days on market $57,900 Active 21 DOM
3. 2026-06-15
   days on market $57,900 Active 20 DOM
4. 2026-06-14
   days on market $57,900 Active 18 DOM
5. 2026-06-12
   days on market $57,900 Active 17 DOM
6. 2026-06-09
   days on market $57,900 Active 14 DOM
7. 2026-06-09
   price $57,900 Active 13 DOM
8. 2026-06-08
   days on market $64,900 Active 13 DOM
9. 2026-06-07
   days on market $64,900 Active 12 DOM
10. 2026-06-05
    days on market $64,900 Active 9 DOM
11. 2026-06-03
    days on market $64,900 Active 8 DOM
12. 2026-06-02
    days on market $64,900 Active 7 DOM
13. 2026-06-01
    days on market $64,900 Active 6 DOM
14. 2026-05-31
    days on market $64,900 Active 5 DOM
15. 2026-05-30
    days on market $64,900 Active 4 DOM
16. 2026-05-26
    listed $64,900 Active
17. 2019-12-02
    soldstatus $45,000 532-char remark

    Show marketing remark (542 chars)

    Charming Bay City Bungalow! This lovely 4 bedroom 2 bath home is just waiting for some finishing touches. Hardwood floors and original woodwork throughout! Large basement just waiting to be finished and a super long 180 foot yard make this home an entertainer’s dream. A large detached 2 car garage would also make an awesome man-cave, she-shed or workshop. .. So many possibilities! Located very close to beautiful Carroll Park and right around the corner from the rail-trail will keep you active and entertained all year!

18. 2019-12-02
    soldstatus $45,000 542-char remark

    Show marketing remark (542 chars)

    Charming Bay City Bungalow! This lovely 4 bedroom 2 bath home is just waiting for some finishing touches. Hardwood floors and original woodwork throughout! Large basement just waiting to be finished and a super long 180 foot yard make this home an entertainer’s dream. A large detached 2 car garage would also make an awesome man-cave, she-shed or workshop. .. So many possibilities! Located very close to beautiful Carroll Park and right around the corner from the rail-trail will keep you active and entertained all year!

19. 2019-11-06
    soldstatus $45,000
20. 2019-11-04
    soldstatus $45,000
21. 2019-04-25
    listed $49,000 532-char remark

    Show marketing remark (542 chars)

    Charming Bay City Bungalow! This lovely 4 bedroom 2 bath home is just waiting for some finishing touches. Hardwood floors and original woodwork throughout! Large basement just waiting to be finished and a super long 180 foot yard make this home an entertainer’s dream. A large detached 2 car garage would also make an awesome man-cave, she-shed or workshop. .. So many possibilities! Located very close to beautiful Carroll Park and right around the corner from the rail-trail will keep you active and entertained all year!

22. 2019-04-25
    listed $49,000 542-char remark

    Show marketing remark (542 chars)

    Charming Bay City Bungalow! This lovely 4 bedroom 2 bath home is just waiting for some finishing touches. Hardwood floors and original woodwork throughout! Large basement just waiting to be finished and a super long 180 foot yard make this home an entertainer’s dream. A large detached 2 car garage would also make an awesome man-cave, she-shed or workshop. .. So many possibilities! Located very close to beautiful Carroll Park and right around the corner from the rail-trail will keep you active and entertained all year!

23. 2019-04-23
    listed $49,000
24. 2012-03-05
    soldstatus $17,900
25. 2012-03-02
    soldstatus $17,900
26. 2012-03-02
    soldstatus $17,900
27. 2011-12-07
    listed $18,900
28. 2011-12-07
    listed $18,900
29. 2011-12-06
    listed $18,900
30. 2008-01-11
    soldstatus $94,900
31. 2007-08-02
    soldstatus $58,000
32. 2007-06-26
    listed $54,500
33. 2005-04-15
    soldstatus $80,560
34. 2005-04-10
    soldstatus $80,560
35. 2004-11-08
    listed $75,900
36. 2004-10-20
    soldstatus $51,276
37. 2004-10-20
    soldstatus $51,276
38. 2004-07-30
    listed $54,000
39. 2004-07-30
    listed $54,000
40. 2002-05-15
    soldstatus $73,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $2,205 · $184/mo
• Projected year-2 tax: $2,205 · $184/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,335
• − Mortgage interest: −$3,243
• − Property taxes: −$2,205
• − Insurance: −$290
• − Repairs & maintenance: −$1,387
• − Management: −$1,387
• − Depreciation: −$1,684
• Taxable income: $7,139
• Est. tax owed @ 24.0%: −$1,713
• After-tax cash flow: $5,843/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Bay City School District
• NCES district ID: 2604260
• Math proficiency: 27% ▼ -8.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $43,833
• Composite: 28.47/100
• National rank: #6743
• State rank: #317 of 540 in MI

Livability — Bay City

• Score: 68/100
• State rank: #360
• US rank: #8912

Category grades

Amenities D Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety A+ User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bay City, MI
• County: Bay County · 36,975 people
• City population: 25,635
• Metro: Bay City, MI
• Population (ZIP): 25,635
• Household income: $50,518
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 528.0

Population outlook (Bay County) Hauer SSP2

• Today (2025): 101,476 people
• By 2030: 98,152 · -3.3%
• By 2040: 89,711 · -11.6%
• By 2050: 80,614 · -20.6%
• By 2075: 60,544 · -40.3%
• By 2100: 41,603 · -59.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 11% Two or more races 10% Black 3%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 17% Lithuanian 7% Slovak 2%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Bay

• 2024 margin: R (+14.7) · D 42.0% · R 56.7% · Other 1.3%
• 2008→2024 swing: -30.0pp toward R · 2008: 15.3pp · 2024: -14.7pp
• All cycles: 2024: R+14.7 2020: R+11.6 2016: R+12.6 2012: D+6.0 2008: D+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.21%
• Current HPI: 183.5774
• Rent YoY: —
• Metro: Bay City, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

-11.7% since first listed

25 events — show timeline

• 2026-05-26 Listed $64,900 MiRealSource-MiMLS
• 2019-12-02 Sold (MLS) $45,000 MiRealSource-MiMLS
• 2019-12-02 Sold (MLS) $45,000 REALCOMP
• 2019-11-06 Sold (Public Records) $45,000 Public Records
• 2019-11-04 Sold (MLS) $45,000 MiRealSource-MiMLS
• 2019-04-25 Listed $49,000 MiRealSource-MiMLS
• 2019-04-25 Listed $49,000 REALCOMP
• 2019-04-23 Listed $49,000 MiRealSource-MiMLS
• 2012-03-05 Sold (MLS) $17,900 MiRealSource-MiMLS
• 2012-03-02 Sold (MLS) $17,900 MiRealSource-MiMLS
• 2012-03-02 Sold (MLS) $17,900 REALCOMP
• 2011-12-07 Listed $18,900 MiRealSource-MiMLS
• 2011-12-07 Listed $18,900 REALCOMP
• 2011-12-06 Listed $18,900 MiRealSource-MiMLS
• 2008-01-11 Sold (Public Records) $94,900 Public Records
• 2007-08-02 Sold (MLS) $58,000 MiRealSource-MiMLS
• 2007-06-26 Listed $54,500 MiRealSource-MiMLS
• 2005-04-15 Sold (Public Records) $80,560 Public Records
• 2005-04-10 Sold (MLS) $80,560 MiRealSource-MiMLS
• 2004-11-08 Listed $75,900 MiRealSource-MiMLS
• 2004-10-20 Sold (MLS) $51,276 MiRealSource-MiMLS
• 2004-10-20 Sold (MLS) $51,276 REALCOMP
• 2004-07-30 Listed $54,000 MiRealSource-MiMLS
• 2004-07-30 Listed $54,000 REALCOMP
• 2002-05-15 Sold (Public Records) $73,500 Public Records

Property tax history

-1.4%/yr

Latest (2025): $2,205 · -10.1% YoY. Source: county tax records.